History 

Readlyn Savings Bank ~ 

Taking Good Care of You for over 100 years!  

 

In the early part of the year 1904 a few citizens of the surrounding territory of the new organized Town of Readlyn, Iowa met in the Chicago Great Western Railroad depot (est. 1903), the only available meeting place in the unbuilt town at the time. The purpose of the meeting was to provide the community with banking facilities. They realized that the new community with its adjoining dairy industry and rich farm lands created a necessity for supplying the people a means for transacting their business with speed and convenience. After several meetings it was decided to organize the Readlyn Savings Bank and on June 15, 1904 the bank officially opened for business with a starting capital of $10,000. The Bank helped give the young town a true sense of community and pride. Early in RSB's existence a slogan was born that echoes to this day: "Readlyn Savings Bank: It's Your Bank - Use It." 

 

The Bank and Readlyn have been together through the good times and the bad. During the Great Depression (1929) when banks all over the country were forced to close the Readlyn Savings Bank was able to maintain business functions. A few years later in July 1933 Readlyn's baseball team beat Osceola 19-3 to win the Iowa Semi-Pro State Championship. The manager was Eric Poock and pitcher Al "Bullet" Bulgren recorded 15 strikeouts. The town celebrated with a banquet at Wolf's Hall until after mid-night and the trophy was displayed at the Bank. A decade later, when the boys went to war, Glenyce Bruns and Janice Heineman became the first women to work in the Bank in 1943 and 1945, respectively. Grace Kuethe joined this duo in 1954 and all three combined to serve at the Bank for over 100 years. Glenyce, Janice, and Grace retired in the later 1980's after Burton Stumme, the longest serving member of the RSB family, stepped down in 1986. Burton was at Readlyn Savings Bank for a remarkable 53 years. 

 

Through the years RSB has grown to keep pace with the ever-prospering town of Readlyn and recently moved to new facilities. One of the first physical changes to "the old bank" came in February 1915 when an additional banking room was purchased to make the Bank two stories. In 1961, RSB outgrew the original facilities which were erected in 1904. An adjacent building to the north was purchased and remodeling completed by the fall of 1962. Then in 1979 a drive-up window was installed to further modernize the facilities.  

 

Tough times came to Readlyn during the 1980's Farm Crisis. As with The Great Depression, Readlyn Savings Bank and our customers fared better than most during The Crisis. While other lenders with less financial strength and soundness, and fewer ties to the community, were foreclosing on their borrowers and closing down operations, Readlyn Savings Bank continued "Taking Good Care of You" ~ our customers. 

 

In 1983 Readlyn had its 15 minutes of fame when it hosted the filming of the movie "Country", the story of a resilient farming family struggling through the 1980's Farm Crisis. Many residents of Readlyn played a part in the production. RSB's very own Lois Ganske, with the Bank over 30 years now, was "discovered" and played herself in scenes shot in, what we now call, "the old bank." She very nearly stole the show from Jessica Lang, Sam Shepard, and Wilfred Brimley with the Oscar-worthy delivery of her line: "Jim?" Who can forget it?! 

 

Having weathered the 1980's Farm Crisis, Readlyn continued to prosper and the Bank again needed to upgrade to grow with the community and its banking service needs. Thus, the "new" Readlyn Savings Bank was constructed in the lot across the street and on January 27, 1997 opened its doors for business. Most recently Readlyn Savings Bank began offering Debit Cards and January 1, 2007 marked the birth of e-RSB Internet Banking. Today, RSB looks towards a future of continual improvment of our facilities, products, and service to our customers and our community. 

 

For over 100 years Readlyn Savings Bank and the town of Readlyn have been the best of partners and neighbors. From an investment of $10,000 to today's total assets of  nearly $40 million, RSB has grown with Readlyn from being a stop along the Great Western Railroad to the thriving community it is today. The train tracks might be gone and the Bank might be "new" but it's still the same great Town of Readlyn it has been since 1904.  

 

Although starting with a small and humble beginning, the Readlyn Savings Bank has steadily grown and kept pace with the changing periods of time. The Bank is proud to have maintained its place in the community through a century and looks forward to providing another 100 years of the best service to the good people of Readlyn      . . . and our One Old Grump.